The Second Coming of Hazama

Yeah, Kill Bill and Ninja Assassin were American movies. As far as ninja go the Wachowski brothers don't know anything outside of raping the culture. [SLAM!] If you want a real ninja movie check out Shinobi: Heart Under the Blade. It's heavily based on the manga Basilisk which is also more in line with the true shinobi.

Also, there is a series of movies simply called Shinobi which star Kenji Matsuda. This thing was so low budget but it captured what shinobi was, how shinobi lived, how they fought, and how they died. When I saw the first ten minutes I was like, I can't watch this, it's so cheap. But this is actually one of the best damn ninja flicks you'll find anywhere.

Best action movie I've seen from Asia is VERSUS without a doubt. This thing is like two and half-hours of fist fights, gun battles, sword fights, and good ole mafia vs zombies beatdown.